CATL (03750) slid more than 4% in early trading on Thursday, touching HK$546.5, its lowest level since March. At the time of writing, the stock was down 2.53% at HK$558, with turnover reaching HK$859 million.

On the news front, automakers have increasingly been moving to reduce their reliance on the battery giant. On September 7, Li Auto officially announced that its self-developed battery system has begun rolling out across its entire vehicle lineup. Additionally, Xiaomi EV recently unveiled its "Longjia Battery," with CALB and Sunwoda entering the supply chain. According to earlier reports, automakers including GAC, Dongfeng, and Geely have all invested in in-house battery R&D to break free from dependence on CATL, with some already achieving mass production capabilities.

Meanwhile, reports from industry sources indicate that a leading battery manufacturer has signaled a potential cut in September production schedules. Market speculation suggests a month-on-month decline of nearly 10% from August, sharply contrasting with institutional forecasts of a 5%-10% growth typical of the peak season. While these reports have yet to be officially confirmed by the company, they have already spread rapidly across the supply chain and capital markets.

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